Rupee loses 15 paise against dollar

Snapping its three-session gaining streak, the rupee on Wednesday lost 15 paise to close at 53.51 against the US dollar, on fresh demand for the American currency from importers.

Forex dealers said a firm dollar overseas also weighed on the rupee. However, sustained capital inflows capped rupee's fall to some extent, they added.

At the Interbank Foreign Exchange market, the domestic unit resumed weak at 53.50 a dollar as against last close of 53.36.

It moved in a narrow range of 53.42-53.63 before ending at 53.51, showing a fall of 15 paise, or 0.28 per cent from its previous close.

In the last three sessions, the local unit has risen by 106 paise, or 1.95 per cent.

Foreign institutional investors continued their buying spree and they picked up shares worth $850.98 million on Tuesday, taking the total to almost $3.3 billion in the current month till September 25 and almost $15.59 billion in 2012 so far, as per Sebi data.